Alphabet Inc. (GOOGL) PT Set at $935.00 by MKM Partners

Alphabet Inc. (NASDAQ:GOOGL) has been assigned a $935.00 price objective by MKM Partners in a note issued to investors on Monday. The brokerage presently has a a “buy” rating on the stock. MKM Partners’ price objective would indicate a potential upside of 20.62% from the company’s previous close.

A number of other research analysts have also issued reports on GOOGL. Robert W. Baird reiterated a “buy” rating on shares of Alphabet in a research note on Sunday, July 17th. Bank of America Corp. reiterated a “buy” rating and issued a $925.00 target price on shares of Alphabet in a research note on Sunday, July 17th. Credit Suisse Group AG reiterated a “buy” rating and issued a $920.00 target price on shares of Alphabet in a research note on Sunday, July 17th. B. Riley reiterated a “buy” rating and issued a $990.00 target price on shares of Alphabet in a research note on Wednesday, November 2nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $900.00 price target (up from $825.00) on shares of Alphabet in a research report on Sunday, July 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, forty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $940.66.

Shares of Alphabet (NASDAQ:GOOGL) opened at 775.16 on Monday. The company’s 50-day moving average is $804.75 and its 200 day moving average is $769.01. The firm has a market cap of $534.27 billion, a price-to-earnings ratio of 28.37 and a beta of 0.92. Alphabet has a 1-year low of $672.66 and a 1-year high of $839.00.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Balentine LLC raised its stake in shares of Alphabet by 0.7% in the third quarter. Balentine LLC now owns 1,717 shares of the company’s stock worth $1,381,000 after buying an additional 12 shares in the last quarter. Peloton Wealth Strategists acquired a new stake in shares of Alphabet during the third quarter worth approximately $2,541,000. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in shares of Alphabet by 11.3% in the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,760 shares of the company’s stock worth $1,412,000 after buying an additional 178 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Alphabet by 11.5% in the third quarter. Ameritas Investment Partners Inc. now owns 13,094 shares of the company’s stock worth $10,528,000 after buying an additional 1,355 shares in the last quarter. Finally, Phocas Financial Corp. raised its stake in shares of Alphabet by 0.4% in the third quarter. Phocas Financial Corp. now owns 1,952 shares of the company’s stock worth $1,570,000 after buying an additional 8 shares in the last quarter. 34.07% of the stock is currently owned by hedge funds and other institutional investors.

About Alphabet

Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.